Audit 299721

Title: Special Education and School Age Parents Aid - Allowable Costs Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Dr. Howard Fuller Collegiate Academy, Inc. (the “School”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Guidelines. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Wisconsin Department of Public Instruction requires the presentation of cash payments as well as accrual adjustments to be reported in the Schedule of Expenditures of Federal and State Awards. De Minimis Rate Used: N Rate Explanation: The School has not elected to use the 10% de minimis cost rate. All indirect costs are allocated to programs based on an allowable indirect cost allocation. Revenue is accrued in the year in which the School incurs the costs for special education services provided. Local Costs Eligible for Categorical Aid (Project 011) allowable for the year ended June 30, 2023, are $168,197. Wisconsin Department of Public Instruction will reimburse approximately 31.40% of this amount for the year ended June 30, 2023.